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FINANCIAL NEWS
Abu Dhabi’s hotel sector flourishes in H1
03 Aug 2014
(MENAFN) Abu Dhabi’s hotel market saw a significant growth in the first six months of the current year, resulting in higher profitability, according to Arabian Business.
Increasing demand raised occupancy levels by 4.9 percent to 78.2 percent and drove revenue per available room (RevPAR) up by 6.8 percent.
ARR increased by 4.8 percent and occupancy by 3.7 percent during the month of June, prompting RevPAR to boost 11.4 percent to USD85.25.
Higher contribution of non-rooms revenues, particularly from conferencing activities, boosted total revenue per available room (RevPAR) by nine percent to USD200.96 and pushed the bottom-line profits up 31.3 percent to USD31.39 during the month.
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